CAVA Group, Inc. (NYSE:CAVA) Receives Average Rating of “Moderate Buy” from Brokerages

CAVA Group, Inc. (NYSE:CAVA) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $56.50.

CAVA has been the topic of a number of analyst reports. Argus initiated coverage on shares of CAVA Group in a research report on Monday, January 29th. They issued a “hold” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. JPMorgan Chase & Co. increased their price objective on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Robert W. Baird boosted their target price on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Wedbush restated an “outperform” rating and issued a $65.00 price objective (up from $59.00) on shares of CAVA Group in a report on Tuesday, February 27th.

CAVA Group Trading Down 7.2 %

Shares of CAVA Group stock opened at $60.28 on Wednesday. CAVA Group has a 12 month low of $29.05 and a 12 month high of $71.60. The business’s 50-day moving average price is $59.28 and its 200-day moving average price is $44.82.

CAVA Group (NYSE:CAVA) last released its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The business’s quarterly revenue was up 52.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CAVA Group will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In related news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock worth $221,525,951 over the last quarter.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in shares of CAVA Group in the third quarter valued at about $26,000. Montag A & Associates Inc. purchased a new stake in CAVA Group during the 4th quarter valued at approximately $26,000. PNC Financial Services Group Inc. grew its holdings in CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares in the last quarter. Clearstead Advisors LLC purchased a new position in shares of CAVA Group in the third quarter worth $31,000. Finally, CWM LLC boosted its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.